The Daily Forecaster

[B]Bias: [/B] While there may be early range trading between 1.1000-50 (allow for
1.0980) we should see price end lower

Yesterday's price action was mainly bearish but without too much thrust and I feel there will be some consolidation - probably remaining above 1.0980-00 and below 1.1050. Once this is complete look for losses below 1.0980-00 that should actually turn quite aggressive and extend losses to 1.0900-22 and more likely 1.0857-82. That should be enough for today. Also note the 1.0830 area and the 1.0792 low

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ...

Attached Files

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Bias: I look for any pullbacks to remain above 0.8228-45 and for gains to
the 0.8390-10 area

Losses extended to just below the lower 0.8170 support but I feel we have seen the low and the main risk is higher. Currently I see potential to the
0.8290-95 area but this should cap and any pullback must remain above
0.8228-45 and this could develop into a complicated correction. Once complete I will be looking for gains to push back above 0.8295-00 and then extend quite firmly above 0.8347 (take a little care) and more likely the 0.8390-00 area. I feel this will hold for a little longer and cause another pullback

Please view the complete analysis in the attached PDF file.

For a ...

Attached Files

• The Brief Daily Forecaster.pdf (23.1 KB, 122 次查看)

[B]Bias: [/B] I suspect we'll see a reversal soon but there is risk of early
slippage - wait for breaks

We are either seeing a double bottom or there'll be an initial slip below
134.07 before a reversal higher. If the downside does slip - which I feel is the risk - then the 134.93-09 area should cap. Otherwise a break below
134.07 sees extension to 133.20-53 before higher. Thus we should be looking for bullish reversal patterns at the lower 133.20-53 support or a continuation pattern around the 135.09 resistance. Once this is seen we should then look for the underlying uptrend to resume. Breach would signal strength back above the 135.50 pivot resistance en route 136.44. Take care here as this could cause ...

Attached Files

• The Brief Daily Forecaster.pdf (23.1 KB, 170 次查看)

[B]Bias: [/B] Watch for the risk of further sharp losses

The reversal from 1.1073 was very sharp and this does highlight the possibility that we'll see another push lower today. For the moment we remain in 1.0860-1.0930 consolidation and if this breaks lower directly then I would not be surprised to see another sharp move lower. There is minor support along the way at the 1.0849 low and then 1.0780 but I feel there is every chance we'll see 1.00676-95 at least - possibly back to the 1.0630 low.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels ...

Attached Files

• The Brief Daily Forecaster.pdf (23.0 KB, 119 次查看)